The trial court poked holes in EFCC’s $12 million money laundering charges against the Oshodins.
The Federal High Court in Abuja has discharged and acquitted Isabella Oshodin and her company, Bob Oshodin Organisation Ltd, in a $12 million money laundering case filed by the Economic and Financial Crimes Commission (EFCC).
PREMIUM TIMES understands that the judgement was delivered on 10 March but could only confirm it on Friday after obtaining a certified true copy of the verdict.
The judge ruled that although conspiracy is often difficult to prove through direct evidence, the prosecution did not present any direct or circumstantial evidence showing that the defendants had a meeting of the minds to carry out unlawful activity.
He added that no agreement or coordinated intention was established to support the allegation.
The court also found that the prosecution failed to prove that the funds received by the defendants were proceeds of unlawful activity, a key requirement under the Money Laundering (Prohibition) Act, 2011 (as amended).
Mr Omotosho stated that there was no credible evidence linking the funds to any criminal breach of trust or other illicit conduct.
The EFCC had alleged that the funds were unlawfully from the Office of the former National Security Adviser Sambo Dasuki.
A PREMIUM TIMES investigation published in November 2014 shed light on how Mrs Oshodin and her husband acquired properties in the United States after receiving funds transferred by the NSA office.
However, the court held that the allegation that the defendant received funds from the NSA office unlawfully was not supported by reliable evidence. It noted that witnesses were unable to confirm that the payments were made for unlawful purposes or that the funds were diverted or improperly appropriated.
Mr Omotosho further held that the prosecution did not prove that the defendants knew or ought to have known that the funds were illicit.
He emphasised that criminal liability under the law requires proof of knowledge or reasonable suspicion that the funds were proceeds of crime.
In reaching its decision, the court relied on documentary evidence presented by the defence, including a contract of sale relating to a factory owned by the defendants.
The defence maintained that the funds represented payments for the purchase of the factory and for training programmes for ex-militants from the Niger Delta.
The judge found that the contract of sale was consistent with the defence’s explanation and noted that attempts by the prosecution to discredit the document were inconclusive.
The court also faulted the prosecution for failing to call key witnesses, including Mr Dasuki, whom it described as a vital witness capable of clarifying the purpose of the payments.
It held that the absence of such testimony created gaps in the prosecution’s case, which must be resolved in favour of the defendants.
On allegations that the defendants used proceeds of crime to acquire properties abroad, the court held that the prosecution did not provide sufficient evidence.
It noted that no credible documentation was produced to establish ownership or confirm the alleged transactions.
Mr Omotosho described the prosecution’s case as speculative and reiterated that assumptions cannot replace credible evidence in criminal proceedings.
He concluded that the prosecution failed to establish any unlawful conduct or link the funds to illicit activity.
Accordingly, the court discharged and acquitted the defendants on all counts.
Mrs Oshodin, her husband Robert Oshodin, and their firm were arraigned on 25 amended charge bordering on alleged money laundering and related offences.
In the charge marked FHC/ABJ/CR/114/2019, the EFCC alleged that the defendants conspired in 2014 to commit money laundering within the jurisdiction of the court.
The prosecution also accused the defendants of transferring millions of dollars from Nigeria to accounts in the United States, including payments to Portfolio Escrow Company, Wells Fargo Bank, and Robin G. Mathis PLLC.
It maintained that the defendants knew or ought to have known that the funds were proceeds of unlawful activities.
Other counts alleged that the defendants possessed about $12 million and various sums in naira believed to be proceeds of criminal breach of trust.
The EFCC further alleged that part of the funds was used to acquire properties in the United States, including real estate in Los Angeles, California, and McLean, Virginia, through corporate entities.
Mrs Oshodin and her company pleaded not guilty to the charges read to them.
The prosecution lawyer, H. M. Mohammed called 12 witnesses to establish the case against the defendants. Those invited include Faruk Idiaro of Access Bank, Remigius Ugwu of Zenith Bank, Moses Oluwatosin Shittu of Union Bank, Aderemi Ezekiel Olaoluwa of First Bank and Jackson Joseph Edet of the EFCC.
